Meta founder and CEO Mark Zuckerberg said that although operating losses for the Reality Labs business peak in 2022, the company does not plan to change its long-term strategy towards the metaverse.
Meta published earnings on Feb. 1 showing Reality Labs lost $13.7 billion in 2022, the largest annual loss recorded for the metaverse build division. The fourth quarter was particularly costly, with approximately $4.3 billion lost in this segment. The loss was also the largest quarterly loss in the division since the financial reports were first published. But Zuckerberg was adamant on the company’s metaverse strategy in an earnings call on Feb.
Answering a question about how the firm’s efficiency applies to Reality Labs, he said:
“None of the signals I’ve seen so far suggest that we need to change Reality Labs strategy over the long term.”
Zuckerberg added that the company will launch another “next-generation consumer headset” in 2023, following the launch of the Quest Pro Virtual Reality (VR) headset in October.